Pune, India -- (SBWIRE) -- 10/03/2016 -- Hong Kong MICE Tourism market is projected to reach more than US$ 2.5 Billion by the end of 2021 growing at a CAGR of around XX% from 2016 to 2021.

Hong Kong is one of the world's top MICE (Meetings, Incentives, Conventions & Exhibitions) destinations. Hong Kong's strategic location, together with its vibrant cosmopolitan lifestyle, newly added and more sophisticated infrastructure, world class hospitality and superb professional services, have made the city an ideal location for meetings, incentives, conventions, and events (MICE) tourism. The MICE tourists increase was contributed by a number of large–scale conventions and exhibition programs with unprecedented numbers of participants.

MICE organizers have been attracted by the growth of the mainland economy and favorable exchange rates, with the greatest increase coming from those visiting from short–haul markets – particularly Mainland China. The Government is committed to enhancing the appeal of Hong Kong as an ideal MICE (Meetings, Incentive travels, Conventions and Exhibitions) destination in Asia.

Hong Kong MICE Tourism Arrivals Insights

Chinese Mainland is the largest source market for Hong Kong MICE tourism. South and Southeast Asia is the second leading source market for Hong Kong MICE tourism. Europe, Africa and The Middle East stands at the third spot with XX% share of the Hong Kong MICE tourist arrivals. North Asia and The Americas holds the fourth and fifth highest share of the Hong Kong MICE tourist arrivals, being followed by Taiwan. Australia, New Zealand and S. Pacific and Macau SAR are the other leading source market for Hong Kong MICE tourism.

Hong Kong MICE Tourism Spending Insights

In terms of spending by the MICE tourists in Hong Kong, Mainland China is the leader with more than 50% of spending in 2015. Mainland China MICE tourists spending share in Hong Kong is higher than the combined share of the top 7 regions. Mainland China is likely to maintain dominance in Hong Kong MICE tourists spending by the year end of 2021. South and Southeast Asia spot at second position in the spending share with XX% share in 2015.

The research report titled ""Hong Kong MICE Tourism Market - Trips & Spending to 2021"" provides detailed information on the Hong Kong MICE Tourism Market. This report analyzes market data and provides a better understanding of MICE travelers flows and revenue to Hong Kong. Market outlook in value terms for the forecasted period for Hong Kong MICE Tourism market has been detailed in the report. This report also entails a detailed description of growth drivers and challenges of the Hong Kong MICE Tourism Market.

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